The crypto market has been bullish lately. Stocks closely tied to the industry and the leading altcoins have seen a noticeable increase in value. The Coinbase and Ethereum rise stood out last week.
The technological ETH upgrade
In the last week of June, Ethereum experienced a 10% increase in value. It is a rare occasion that this altcoin has surpassed Bitcoin in such a period. What are the reasons behind this?
Right before the 10th Ethereum anniversary, the validator architecture of this altcoin is evolving. Developers highlight the enhanced security and decentralization that make ETH more attractive to institutional investors.
Moreover, the Ethereum ecosystem serves as a foundation for multiple stablecoins. With the GENIUS Act, which provided some regulatory clarity, traders placed more trust in the entire ETH system, including the jewel in the crown.
Massive crypto stock movement
Compared to June 23, Coinbase has seen a significant rise over the past couple of days. However, analysts pointed out the potential overvaluation in relation to the BTC price. As it turned out, at the end of the week, the stock price of this massive crypto stock exchange had fallen.
